Hogan Lovells advises Deutsche Wohnen SE in relation to a scrip dividend

Led by Frankfurt-based partner Michael Schlitt Hogan Lovells has advised Deutsche Wohnen SE on its first scrip dividend transaction.

The shareholders were given the choice to receive the dividend for the financial year 2017 either in cash or in the form of new shares of Deutsche Wohnen SE. During the subscription period shareholders holding approximately 31 percent of the dividend-bearing shares in Deutsche Wohnen SE have elected to receive new shares instead of the cash dividend. To create the 2.2 million new shares, Deutsche Wohnen SE increased its share capital by making use of an authorized capital. 

After having advised Citi and Commerzbank as paying and settlement agent on the scrip dividend of Deutsche Telekom AG and Vonovia SE in the past, Hogan Lovells now again advised the issuer on the structuring and execution of this transaction, obviously of increasing interest to German issuers. Previously, Hogan Lovells had already advised GRENKE AG on its scrip dividend 2014 and 2016 as well as DIC Asset AG on its scrip dividend 2018.

Hogan Lovells for Deutsche Wohnen SE: 

Prof. Dr. Michael Schlitt (Partner, Lead), Nona Naydenova (Business Lawyer, Capital Markets, Frankfurt);

Jonathan Baird (Partner, US law, London).

Share Back To Listing

Loading data